"The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents."
The total value of goods and services produced by a country's citizens, regardless of where they are located, in a given period of time.
Measurement of GNP: Understanding the concept and methods used to calculate GNP, including income approach, expenditure approach, and production approach.
National income accounting: Understanding the fundamental principles of national income accounting and how it relates to GNP.
Economic growth: Understanding how GNP is used to measure economic growth and its relationship with other economic indicators like inflation and unemployment.
History of GNP: Tracing the history of GNP, including its origin, evolution, and the changes in the meaning and measurement of GNP.
Changes in the GNP formula: Understanding the modifications made to the GNP formula over time and their impact on measuring economic growth.
Factors affecting GNP: Understanding the factors that affect GNP, including government policies, productivity, technological advancements, and demographic changes.
GNP and globalization: Understanding the impact of globalization on GNP, including the increase in international trade and the role of multinational corporations.
GNP and the environment: Understanding how GNP can impact the environment and the debate surrounding incorporating environmental factors into GNP calculations.
GNP and income inequality: Understanding the relationship between GNP and income inequality, including the concentration of wealth and income distribution.
Comparison with other economic indicators: Understanding how GNP differs from measures like Gross Domestic Product (GDP) and Gross National Income (GNI) and the respective advantages and limitations of each measure.
Nominal GDP: The total value of goods and services produced by a country without factoring in inflation.
Real GDP: The total value of goods and services produced, adjusted for inflation.
Per capita GDP: GDP divided by the population of a country, used to determine the average income of individuals in that country.
Purchasing Power Parity (PPP) GDP: A calculation that adjusts GDP for differences in the cost of living across countries.
Gross National Income (GNI): Similar to GDP, but includes income earned by a country's citizens and businesses abroad.
Green GDP: A measure that factors in environmental degradation and resource depletion into GDP calculations.
Human Development Index (HDI): A broader measure that factors in GDP, life expectancy, and education levels to determine a country's overall development.
Genuine Progress Indicator (GPI): A measure that factors in environmental and social costs and benefits into GDP calculations to account for the impact of economic growth on well-being.
"While being conceptually identical, it is calculated differently."
"Comparing GNI to GDP shows the degree to which a nation's GDP represents domestic or international activity."
"GNI has gradually replaced GNP in international statistics."
"GNI is the basis of calculation of the largest part of contributions to the budget of the European Union."
"Ireland's GDP became so distorted from the base erosion and profit shifting ('BEPS') tax planning tools of U.S. multinationals."
"The Central Bank of Ireland replaced Irish GDP with a new metric, Irish Modified GNI (or 'GNI*')."
"In 2017, Irish GDP was 162% of Irish Modified GNI."
"...consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents."
"...factor incomes earned by foreign residents..."
"...income earned in the domestic economy by nonresidents."
"Ireland's GDP became so distorted from the base erosion and profit shifting ('BEPS') tax planning tools of U.S. multinationals."
"The total domestic and foreign output claimed by residents of a country."
"GNI has gradually replaced GNP in international statistics."
"GNI is the basis of calculation of the largest part of contributions to the budget of the European Union."
"While being conceptually identical, it is calculated differently."
"Comparing GNI to GDP shows the degree to which a nation's GDP represents domestic or international activity."
"It replaced Irish GDP with a new metric, Irish Modified GNI (or 'GNI*')."
"Ireland's GDP became so distorted from the base erosion and profit shifting ('BEPS') tax planning tools of U.S. multinationals."
"In 2017, Irish GDP was 162% of Irish Modified GNI."